iSun Inc. Wins Five New Solar Projects Valued at $5.1 Million in Vermont

Rhea-AI Summary

iSun, Inc. (NASDAQ: ISUN) announced five contracts totaling $5.1 million to enhance solar energy systems at industrial sites in Vermont. This expands the company's backlog by 6.5 MW and builds on previously established customer relationships in 2023. The projects are set to commence in spring 2023, with completion expected in 2023 and 2024. CEO Jeffrey Peck emphasized the company’s commitment to accelerating the transition to solar energy, highlighting the momentum in their industrial division.

Positive

• Secured contracts worth $5.1 million, expanding backlog by 6.5 MW.
• Demonstrates ongoing momentum in customer relationships with industrial clients.

Negative

• None.

Contracts with existing industrial customers expand backlog by 6.5MW

WILLISTON, Vt.--(BUSINESS WIRE)-- iSun, Inc. (NASDAQ: ISUN) (the "Company," or "iSun"), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced that it had secured five contracts covering 6.5 MW and valued at $5.1 million in Vermont, to provide expanded solar energy capabilities at five industrial sites.

HIGHLIGHTS:

• 6.5 MW in contracts expands iSun’s already active and completed projects in the Vermont market
• $5.1 million in new contracts highlights iSun’s momentum in building upon existing customer relationships in 2023
• Projects scheduled to begin in spring 2023 and are expected to be completed in 2023 and 2024

“We are excited to start 2023 by securing more new contracts that build upon the accelerated pace of contract wins we generated in the second half of 2022. These new projects with existing customers in Vermont demonstrate the momentum within our industrial division, and we’re pleased that execution on these projects will begin this spring,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “In 2023, we are focused on execution and efficiency, and we appreciate the trust and confidence of our customers in our ability to help them achieve their goals in alternative energy initiatives. This award demonstrates yet again our strong commitment to accelerating the transition to solar energy for customers in New England.”

About iSun Inc.

Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted service provider to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 600 megawatts of solar systems. The Company currently provides a comprehensive suite of solar services across residential, commercial, industrial & municipal, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005365/en/

iSun Investor Relations

IR: IR@isunenergy.com

Source: iSun, Inc.

FAQ

What are the recent contracts secured by iSun (ISUN)?

iSun secured five contracts valued at $5.1 million to enhance solar energy capabilities at industrial sites in Vermont.

How much does the new contract from iSun add to their backlog?

The new contracts add 6.5 MW to iSun's backlog.

When will the projects from iSun's new contracts be completed?

The projects are expected to be completed in 2023 and 2024.

What is the significance of the new contracts for iSun (ISUN)?

These contracts highlight iSun’s momentum in building upon existing customer relationships in the renewable energy sector.